Yesterday, the Naira appreciated to N1,670 per dollar in the parallel market, improving from N1,675 on Wednesday.
Similarly, in the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Naira rose to N1,622.57 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM dropped to N1,622.57 per dollar from N1,625.13, reflecting a N2.56 gain for the Naira.
Meanwhile, the volume of dollars traded in the official market decreased by 14.6 percent, from $170.6 million on Wednesday to $145.56 million. As a result, the gap between the parallel market and NAFEM rates narrowed to N47.53 per dollar from N49.87.
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